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and really just ready for a big, big concert. matt? >> i tell you, al, this represents this morning, the motorcade had to actually move these people out of the way. anyway, we'll get back to you in a couple of minutes. >>> meanwhile, there has been a major development in the ongoing budget negotiations. president obama suspended the talks for the today. we'll tell you why and we'll talk to one of the senators who has been inside the negotiating room all week long. >> that's right. and also casey anthony is going to be released this sunday. and -- from prison. authorities are becoming increasingly concerned for her safety and we're live at the jail this morning with details on that story. >>> remember the photo we showed you earlier this week of that massive 18-foot long crocodile, the saltwater croc? a lot of people thought this was a doctor'd photograph. you can believe it's real. we went in search of that beast and we found him. >>> let's begin with that breaking news over night in boston where two delta planes collided. nbc's tom costello covers aviation for us in washington. goo
: it is a huge moment for u.s. women's soccer. can they beat back france today? that is the big question. you know what? so many people around the world, as well as people watching them in germany, are actually rooting and cheering for the u.s. they are the favorites to win the world cup. i mean, they just had an incredible performance. you know? here you see them practicing. they had this incredible match against brazil and in the last minute, they scored a goal and then ended up winning on penalty shoot-outs. everyone is still buzzing about how i credible it was. so the question is can they pull it off today? and what many people are saying is that they have got the fitness, they have got the never say die attitude and they hope that they can manage it today. you know, they are very fit and the french have to work their da derrieres off today. >> i think they all will be working their derrieres off. what do you think? you've been watching this closely. >> you've got germany out. that was a huge team and the favorites to win the competition in germany. they got booted out. the brazilians, a
is inevitable and could hit families with mortgage payments and lower 401(k)s, other big costs. jake tapper and jon karl have been tracking it. let's start with jake. >> reporter: last night aftete their primetime addresses, house speaker john boehner was overheard saying he didn't sign up to go mano a mano with the president of the united states after the president called for congress to compromise. the president spoke sternly to the american people last night blaming house republicans, especially freshmen, for holding up a debt deal. >> the only reason this balanced approach isn't on its way to becoming law right now is because a significant number of republicans in congress are insisting on a different approach. >> reporter: house speaker john boehner responded by saying that the president wants to continue his rampant spending. >> the president often said we need a balanced approach, which in washington means, we spend morerend you pay more. >> reporter: right now there a a two competing bills, to raise the debt ceiling and reduce the deficit. a house one that likely cannot pass the sen
on. we'll start with the satellite and radar. we had big storms rumble through portions of the viewing area. yesterday it got quite dark and scary looking. all the storl activity has -- storm activity has pushed well off to the south and west of here. we do have the clouds still. a couple of showers popping up in central virginia now but most of the activity is in southwestern virginia, eastern portions of tennessee, western portions of north carolina, and southern west virginia. so that's where that is. we talked about the heat advisory. yes, there's a heat advisory that goes into effect at noon today. lasts until 8:00 p.m. all the counties you see there including washington, d.c. this is because with the heat in the upper 90s, the air temperature and humidity, it's going to feel like it's between 100 and 105 degrees during the day today. currently 78 degrees at reagan national. relative humidity 81%. so very uncomfortable out. winds out of the southwest now at 7 miles an hour. planner for today hazy, hot and humid. can't rule out a stray thunderstorm or two during the
day in solitary confinement today as norwegians rally together. this is not a big country which makes scenes on the streets all the more powerful. flowers still fill the streets of oslo today. it was called the rose march, an extraordinary outpouring of remembrance in downtown oslo spurred first by a single user on facebook. crowds eventually swelled to over 200,000. are you surprised how many people came out? >> no. norway is small country and everyone love each other. >> reporter: it wasn't just norwegians. americans as well. i noticed you came down with both the american flag and the norwegian flag. >> yeah, that's correct. >> reporter: support for both countries? i want norwegians to know everyone is supporting them. >> reporter: norway's prime minister said we are heart broken but not letting fear break us. the fear the result of this man who we got a glimpse of on monday. portraying no emotion. police say he has given them additional information he may have worked with two other terror cells both capable of future attacks. for that reason, he'll spend four weeks in solitary with
the crunch day is actually august 3rd, that's the day when the government has a big $23 billion social security payment and it has between $10 billion and $12 billion in tax revenue coming in. i think the really big issue for the treasury is going to be how it distinguishes between, if you will, paying back the money it already owes, paying back the government bond holders, and paying its ongoing running costs, things like social security, medicare, medicaid, military salaries and so forth, and i think the betting is that the government will put, will give a priority to paying the bills it already owes, to paying the bond holders, simply because if you don't do that, you go into massive default, and the whole global financial system i think really starts getting shaky, but not paying some of the big government commitments within the united states, that's going to get painful pretty fast. >> not paying the social securitys, the medicares, the medicaids of the world or even our defense budget that's as big of an issue for many in many mind as defaulting on our debt which would be a nonpa
. they do, however, believe she's no longer in central florida. when she left the jail, you saw the big crowds there. there were people yelling "killer" in that crowd as she got into the suv and left. there is a great deal of emotion still unresolved around this case. we saw a lot of people getting together who were doing something peaceful with those emotions over the weekend. they went to the site where caylee anthony's body was discovered and held a march from that site to the anthony home. all to remember the child whose death started all of this. it was a very solemn occasion. a lot of people walking in the street. at one point it was reported there were cars lined up on the road about a half mile long of people just parking on the roadside going into those woods where her body was discovered to go to that spot and remember that little girl. again, a great deal of emotion. people trying to process all of this on their own. but casey anthony at the moment is still staying out of the public eye even though she has a lot of legal entanglements she will still have to address in the mon
in rural areas. last year the postal service lost $8 billion. the partial shut-down of the f.a.a. is a big windfall for most u.s. airlines this morning. congress failed to fund the budget for the f.a.a., authorization to collect taxes on airline ticket expired. only three airlines though -- alaska air, frontier and virgin atlantic, are dropping fares. other airlines are collecting and keeping $200 million a week. >>> mcdonald's is announcing big changes to its happy meals today. the los angeles times reports the fast food giant will add servings of fruits and veggies to the popular meals and the size of fries will shrink. look for changes in september. >>> and that denver teenager mauled by a bear in alaska is describing the attack from his hospital bed. the weekend attack happened north of anchorage. 17-year-old sam gotsian was on a hike for a survival course. some got away and sam was lucky just to survive. >> i thought i was going to die when i was being attacked. i was so scareded. we saw the first person go around the corner, yell bear and run backwards. i looked behind me and the bea
's still a big divide between the white house and capitol hill over the debt limit. what president obama is demanding from congress until a deal is done. >>> good morning. welcome back to "news 4 today." i'm joe krebs. >> i'm pat lawson muse in for eun yang on this monday morning, july 11th, 2011. and here's a look at the washington skyline. you can see the capitol in the distance and the potomac river. little hazy. going to be hot out there today, tom. >>> indeed, going to be heating up and the humidity has increased. we welcome pat lawson muse. good to have you with us. 76 at reagan national. low 70s at prince george's county and arlington, montgomery, and fairfax counties. weather watchers reporting upper 60s to near 70 in the rural areas of maryland and virginia. right near the bay, it's in the mid- mid-70s there as well as at the atlantic beaches. the yellow zone in western maryland, southern shenandoah valley in west virginia in the mid to upper 60s now. there's the view from space. a mostly clear sky starting off this monday morning. winds shifting into the south and southwest, th
was try to create a new sense of urgency to see if there's a chance to put the big deal back together that he and speaker boehner were close to having this deal last week. but in many ways, this speech was almost oh post mortem, almost setting up the blame game for the fact that no big deal is going to happen. and no matter what happens here at the end of the day, the debt ceiling is going to go up. but nobody is going to be happy about the deal. i can tell you this, ann, i had a bunch of democrats that said to me, would have been a good speech to give two weeks ago. >> i know that he called for public activism, so much so that we hear the capitol hill websites were crashing last night because so many people were trying to e-mail their representatives. it looks like he spooked main street, jim? will he spook also wall street? >> no, not at all. wall street is calm. the markets are looking good today. we had a blip down in the indicators between 9:0 and about 9:20. they came right back. no one is buying the panic, the sky-rocketing interest rates scenario. >> that said, hedge funds are
hotel, upscale restaurant and sports bar across the street from the proposed niners stadium took a big step forward. santa clara city council said it would work exclusively from montana and his group for the next 18 months. that means no other companies can build on two empty lots in santa clara. montana's group is convinced their hotel and sports bar will turn santa clara into a destination. >> what do you think of the vote? >> it's always good to win. it's a long way from the process. >> city council went against the city manager's recommendation to open up the process to everyone and make the bidding competitive. the hope is to have the hotel and restaurant up and running when the stadium opens up for business, assuming, of course, there is a new stadium. >>> all right. time to check in with meteorologist christina loren. she's got a look at our forecast. >> we're not scoring any touchdowns if you're looking for warm weather this time of year. we have a significant cooldown that continues. i'm thinking until about tuesday we'll see much cooler than average weather. this morning we'r
. >> really big shock. it was a really big shock. >> reporter: the commuter jet which was heading to north carolina suffered major damage to its tail and horizontal stabilizer and the collision came as a rude awaken for one of its passengers. >> i was half asleep. the next thing you know there is a bang. and we all wondered what happened. the pilot came on and said we've been clip bedity plane behind us. >> reporter: even the air traffic controller on duty could not believe what happened. >> did he hit you with his tail, with his wing? >> absolutely he did. >> reporter: a similar incident happened in april at new york's jfk airport when a large air france a-380 hit the tail of a much smaller jet giving it a traumatic spin. an investigation is under way to determine what caused this delta flight to ram into the jet in boston. but for now, passengers are praising delta staffers for their response to the incident. >> i think they responded pretty well. they told us everybody remain calm and they will have somebody come out and take care of us quickly and asked if anybody was hurt. luckily mos
to put things in perspective, the federal government's twice as big as it was ten years ago. right now. twice as big. so everybody out there that's having to live within a budget, making the hard choices in our economy today, know that if you've grown something twice in ten years, you obviously can make some significant cuts in it without having any negative effect. >> senator coburn, let's talk about your role in the gang of six. is it correct, i mean, you bolted from the group. it was widely reported a couple of months ago. returned recently when the gang agreed to cut an additional 100-plus billion dollars from entitlement health care programs. and are you rock solid behind this new plan? >> you know, i'm rock solid behind my plan. my plan isn't going to happen. so i'm rock solid behind the plan that gets us on the way and this one does. >> your plan being the $9 trillion? >> yeah. >> the whole thing, it appears to be dependent upon rewriting the tax code. so how do we do that? how do we make all these other changes? how do we avert this, you no kn potential default in 13 days and h
on a big deficit reduction plan that includes massive spending cuts, tax reform and entitlement reform, tax increases. so you can see here the clock is ticking and the end game here still very unclear. >> this thing just keeps on developing and you hear hopefulness and then schedules. you will keep us posted when you hear there's actually some kind of timeline we have to figure out whether we are going to have money to pay our bills on august 3rd or not. >> after two days of explosive hearings in the uk phone hacking scandal, relatives of 9/11 victims in the u.s. are now saying they will be meeting with attorney general eric holder soon. they asked for the meeting one-on-one since the fbi started investigating allegations that "news of the world" hacked the phones of survivors, victims and their families. the meeting has yet yet been set. >>> rupert murdoch is back in the united states. he and his wife returned to their new york home yesterday. there is a lot on rupert murdoch's plate. news corp. is facing an fbi investigation and at least two u.s. based lawsuits filed by shareholders. also
the road so we did not end up in this fiscal mess. >> everyone is going to the movies and a big story in the country right now and it relates to what is going on in the debt battle, the white house versus congress right now, battling, and president and cantor, reminiscent to harry potter and it ends this week. there is president obama versus speaker boehner. >> it would be terrifying if they had magical powers. how scary. >> who would be harry potter? >>dave: we will give you an idea, we compared the two in a roll out of this battle versus harry potter. look at this. >> i've been hearing from my republican friends for some time it is a moral imperative to tackle our debt and deficit in a serious way so i have said to them, let's go. >> we are in a crisis. >> i'm voting "no," on the debt ceiling. >> failing to raise the debt ceiling would be armageddon. >> i will not sign a 30-day or 60-day or 90-day extension. >> this debt limit increase is his problem. >> failure is not an option. >> this could have been avoided. >> you think you can hold the government ransom? >> we will in the supp
of the program in just a little while. >> then a big scare in north carolina's outer banks. a 6-year-old girl attacked by a shark in a foot and a half of water. her mother was just a few feet away. luckily, this little girl survived and we'll be there live in just a little while. plus some important health advice for women. a new recommendation about when and how often you should get a mammogram, but it's confusing. it contradicts another recommendation that came out a year and a half ago. what are women to do? dr. nancy snyderman will be here to help us sort all of it out. >>> let's begin with the dramatic end to the space shuttle program. tom costello is at the kennedy space center. you had a front row seat. what was it like? >> it was a dramatic day and an emotional day for everybody here and it is not over. america's space shuttle program, 30 years ongoing since 1980, '81, actually is how in the history books. "atlantis" came down at 5:57 eastern time, it was its 33rd mission. in all, it's trekked 25 million miles, 327 days in orbit and at 5:57 this morning it came on rest on runway 15. h
's population will be sweltering in a dangerous heat wave today. hot air and high humidity will make big cities along the i-95 corridor feel like a sauna. the national weather service says the heat wave may have contributed to 22 deaths already. >>> and london police are expanding their investigation into the phone hacking scandal. an official says it now involves newspapers beyond rupert murdoch's media empire including "the daily mail" and "daily mirror." the police task force has added 15 investigators, bringing the total working on the hacking scandal to 60. >>> nfl owners are meeting in atlanta today to vote on a tentative labor deal with players. the reported ten-year deal, if finalized, would divvy up the league's $9 billion in annual revenue. players were supposed to vote yesterday but never did, suggesting there's still a few details to work out. nfl fans say, enough already. >> 10% unemployment in the country, right? us poor folks scrap and scraping to get by. come on. it's billionaires against millionaires, right? can you not meet in the middle somewhere? >>> here's your chance to ta
, this backup plan could be left as the last option standing. but the big question is always, wolf, will it pass the house? can it pass the house? and this seems to be another example of just how divided the republican party is on this issue. >> yeah, it's a huge, huge division right now. going forward, this debate, we'll see what happens. kate, thanks very much. let's check in with jack right now. he's got the "cafferty file." >> despite that nasty game of chicken going on in washington over raising the debt ceiling. congressional leaders in both parties pretty much agree that doing it is going to be necessary. the argument is over what else goes into the bill that's tying them up and bringing the country dangerously close to defaulting on some of our loans. according to a new poll, 40% do not want the debt ceiling raised and they want their members of congress to vote against any measures that raise it. only 22% want their lawmakers to vote for raising the debt ceiling. and more than 1/3 of americans say they're just not sure. when asked which is a greater concern, 51% say raising the debt cei
was ready to try again to do something big to control the debt. the ensuing days, the two sides forged common ground on the strategy raising the debt limit and cutting more than $4 trillion out of the federal budget that would take place through 2021. the speaker put out a statement in connection with the comments he made to the press yesterday. here is a bit of it for you. he said: in the end, he writes, we couldn't connect. not because of different importants, but different visions for our country. the president is emphatic taxes have to be raised. i know that tax increases destroy jobs. the next page, mr. boehner goes on to say, the president is adamant we can't make changes to entitlement program. i know the programs won't be there for my daughter's generation unless significant action is taken now. i have decided to end conversations with the white house and begin conversations with the leaders in the senate in an effort to find a path forward. again, the leaders are going to the white house today to meet with the president. the minority leader also putting out a statement becaus
states and these other 18 countries have aaa ratings. the u.s. is the big safe haven in the world. so why do these credit agencies matter? who listens to them? investors around the world listen to them. they look at the credit rating agencies and the credit rating of companies and countries to decide where they'll invest the money. for governments, they have a lot of power over the interest rates on the bonds that they can sell to investors. the safest bets pay the lowest interest. that and 's what you want if yoa government trying to raise money. agencies are either paid by the borrower or from subscribers who need the information. standard & poor's tells cnn money that the sovereign u.s. rating is unsolicited, that the u.s. government doesn't pay anything for that rating. and that it is an unbiased ass isment of what's p happhappenin the u.s. >>> here's a rundown some of the stories we're covering. wall street employees are canceling vacations with the debt ceiling deadline just six days away. is that a bad omen for your 401(k)? and i talked to a man who developed a rare tumor after wor
. >> takes your breath away. it's very hot. sweaty. gross. >> reporter: the big apple is on the broiler, with heat indexes soaring to 110 degrees. the statue of liberty's crown closed to visitors. in chicago, parents were steamed over a local summer school without air-conditioning. >> they deserve to come here comfortably to learn. >> reporter: in detroit, the city started rolling power blackouts. it's just before 2:00 in new york. and the air temperature is 94. add in the humidity and heat index is 107. as anybody in the city knows it's hotter on the pavement. this reading 113. at a new york city subway station we found temperatures over 95 degrees. this dry cleaner's was sweltering over 100 degrees. and in times square, the bright lights turned off to save power. within five minutes, i already developed a full sweat. the kind of heat that can have a real physical impact. let's bring in dr. besser. and we'll test some folks out. >> in this heatat i've only bee out here a few minutes. and i already feel my pulse is racing. that's what we'll see here. >> reporter: sure enough we found da
call, while we're waiting, is from big sandy, texas. scott is a republican. good morning. caller: yes, susan, if i were a republican and in the negotiations, i would continue to bring up the immorality that the democrats are willing to -- and the fact that they're willing to steal the liberty of future generations with this humongous debt. they need to hold their feet to the fire, and in the end, obama and the democrats will have to come around. there's no doubt about it. we've got the upper hand. even though you've got the press on the president's side, and i want all these democrats that have called in here supporting obama this morning, just ask yourself, are you honestly better off? has his policies actually helped this country? or is it sending this country to oblivion? none of his policies, none of his stimulus, none of it has worked. not one single bit of it. we're worse off now than when he took office, and we're continuing to go downhill. it's time this iron-headed fool relent and let the adults take over. host: thanks for your call. scott from big sandy, texas. here is speak
all across the country, and they have been hit with a big tax, many forced to close their doors and that is having far-reaching affects. we are going to explore that live with that story. patti ann: a new add campaign claims that milk can cure pms. some people not happy about who the ad is targeting. live with details on that. johnston harris is live at our.com wall. she has three hot videos. you get to choose which one. >> reporter: just above the stories you'll find that pms story about the milk. you have to check that out. after you vote in that poll then you have to decide which story you want to see. the choices for today, i love it when the viewers get a chance to say what they want, big, fuel tpheurbgt it's late but it's finally here and it goes a really long way without having to refuel and it holds a whole lot of people, do you want to see that, or do you want to see a suspect being walked down a hallway, this is in washington state, what happens as people take justice into their own hands, it's pretty unbelievable. remember there are cameras everywhere. and a two-heade
while. >>> a big scare in north carolina's outer banks. a 6-year-old girl attacked by a shark in a foot and a half of water. her mother was just a few feet away. luckily, this little girl survived. we're going to be there live in just a little while. >>> plus, important health advise for women, new recommendation on when and how often you should get a mammogram. it's confusing. it contradicts another recommendation that came out a year and a half ago. what are women to do. dr. nancy schneiderman will be here to sort it out. >>> let's begin with the dramatic end to the shuttle program this morning. tom costello is at the kennedy space center. you had a front row seat, what was it like? >> it was a dramatic and emotional day here. and now it's over. the space shuttle program ongoing for 30 years since '81 is now in the history books. "atlantis" came down at 5:37 eastern time. "atlantis" tracked 307 days in orbit. it came to rest on runway 1-5. the sights and sounds as "atlantis" came in for a landing. >> landing gear down and locked. having fired the imagination of a generation, a ship li
matthews was killed. four others were injured after a big fight broke out. it happened last night. the four victims are expected to be okay. police have not said what started that fight. and they have not identified a suspect yet. >>> if you're heading to the national mall and plan on using metro you have to expect some delays this weekend because parts of the red, orange, and blue lines, they're going through track work today and tomorrow. and the smithsonian metro station is going to be closed for most of the day on monday. it will reopen after the fireworks are over. but to keep people from getting trampled on the escalators, a lot of the downtown station's escalators will be turned off. and all day monday, offpeak fares will be in effect. >>> start of a holiday weekend. it's also a friday. so doug is out in somebody's backyard because he likes to do that on fridays. he is out in montgomery county. where are you, doug? >> oh, we're in potomac, jim. and i'll tell you what, it is a beautiful day, and a beautiful backyard too. take a look. a great house here in maryland. as far as the weath
a controversial last choice option to end the stalemate. >>> how big was it? word this morning the number of possible victims involved in that hacking scandal in britain could be in the thousands. this morning one celebrity who says he was a target, hugh grant, speaks out in a live interview. >>> and we need aboat. a huge 18-foot-long saltwater crocodile leaps out of the river to the delight and terror of tourists. and the photographer who took the picture says it's no croc d the picture says it's no croc d day. captions paid for by nbc-universal television >>> good morning. welcome to "today" on a wednesday morning. i'm matt lauer. >> i'm ann curry. boy, the gloves are off in washington. the move could be more today because the president and top congressional leaders are going to go back to the negotiating table yet again. >> that's right. the republicans were not at all happy with the president's comment on tuesday. now senator mitch mcconnell has offered that last chance option. we're going to tell you what he is offering straight ahead. >>> also this morning matt, it was a deadly cras
that it couldn't pass. courthouse have any idnew ideas >> reporter: they're pushing for the big deal, a lot of pain at one, entitle tks. president obama outlined the plan and said, you can't expect seniors to give up $500 when you went own ask for $5 from people like me. wealthy individuals. >> jon, the leader mitchell mcconnell is looking at a contingency plan which could be a short-term extension. >> reporter: he's tight-lipped about what they mean. they could give him a chance to accept that which he ruled out or one with no tax increases. >> the president very clear on that. >> reporter: he said he's not signing any short-term plans. the debt ceiling needs to be raised until 2013. he will not sign what mcconnell is talking about. >> 2 2 days to go. thank you very much. >>> the republican presidential nomination, kind of shippings to michele bachmann and that is bringing scrutiny ross ron maintained undersaavedra available that bachmann owns about her husband and shows staff trying to turn a gay person straight. this kind of conversion is something that they deny doing. >> these new unde
this if there is a framework. they are pushing for something big. trils of dollars in deficit savings the course of ten years. reminder of the moving parts that a deal like that would require the next several days major spending cuts, tax reform, entitlement reform and if democrats in the white house were to get their way, tax increases. you can see that is pretty much a heavy lift and so you still have a lot of people looking to a more modest deal that the top democrat and republican in the senate, harry reid and mitchell mcconnell are trying to work out which would be more spending cuts and perhaps more modest and perhaps giving the president the unenviable position to have to increase the debtcele himself with a minority support from congress. >> brianna keilar, thanks. >>> government is scrambling to pay its bills here is something americans don't want to hear. billions of dollars in your tax money is being wasted in afghanistan or worse. a new federal audit says that some of that cash may be funding, are you ready for this? the same insurgency that is killing americans. chris lawrence is at the pentagon
. there are a lot of breaking details regarding the dates and there could be a big face injected into it as well. we'll tell you about it shortly. big blowup in washington that everybody is talking about. >> clayton in for brian today. good to have you. headlines for you first. there are no leads this morning on who is responsible for a deadly triple bombing in mumbai, india that killed 17 people. the simultaneous bombings in three separate neighborhoods described as a coordinated terror attack. 131 other people are hurt. 23 critically. investigators believe it may be revenge for police pressure on home grown terrorists. this morning, four people are dead after a homicide bomber attacked a memorial service for the half brother of afghanistan president hamid karzai. 15 others were hurt in this attack on a kandahar mosque. wally karzai was assassinated on tuesday. he was shot at close range, apparently by a confidant. the taliban has claimed responsibility for his murder. thousands paid their respects for an 8-year-old boy murdered in his brooklyn, new york, neighborhood. he went missing monday on his
. if they manage to defeat this vote today, this is going to be a big, big problem for markets. if they don't, you may see markets continue to tread water until there is a solution to this. now, remember, speaker boehner's plan is not likely one that is going to pass the senate. not likely one that is going to get past the president. the bottom line if there is some sense boehner has better control of h over hi members you may see markets allowing a little bit more time. right now markets are largely relaxing but ready to move if this doesn't go the right way. >> thanks, guys. >>> at the bottom of the hour, we will go to wall street for the opening bell and answer a question many of us have right now -- should we take our money out of the stock exchange and where do we put it if so. we will talk to a financial analyst about that. >>> cnn obtained dramatic new video taken minutes after the bombing of the government buildings in norway. it was shot by a hamburg who works in oslo and driving through a tunnel beneath the city's government plaza when the bomb went off. eight people killed. he recorded
mean they've got to pass something big and get it implemented quickly if we're not going to blow past that anyway. >> they really do. you heard secretary geithner yesterday saying that essentially we're running out of runway now and this is something that everyone has been dealing with for many, many months. what speaker boehner, according to one republican source, told gop lawmakers yesterday, is that they have to vote on some kind of a plan by wednesday and they have to post it on-line by today. so, you know, these are pretty tight deadlines that they're up against right now and last check, you know, they're still not close on a deal yet. nonetheless they have to get something done as he pointed out by wednesday to meet that august 2nd deadline. >> they don't have to be tight deadlines. >> never has to be tight deadlines. >> this is a crisis made in washington. >> as mark preston told me about half an hour ago, on the phone, he said guys, it's washington. that's -- >> this is how it always works. >> we'll be with you, talking many times. i have to tell you, grover norquist, the pres
chart has given a lot over the years. we call it the big shot. in the last few years, change has happened in terms of the long-term stability, brief moments of disturbance, changes in 60 years of stability. we reinvented work practices and other practices. what has happened now is in the last 10 years, we are moving to a different kind of infrastructure proven by the digital loss of competition. now we find having a world in which we have constant disruption nearly every year. the challenge is how do you start to leverage that rather than fear that in terms of driving innovation in? it will not slow down for the next 30 or 40 years. let me say this personally. i can recapitulate the last 10 years of my life. it took me from this class to cloud computing come into graphic processing, that is scientific computing a fraction of the cost, now into a very limited form of competing. i have had to relearn almost everything i knew as a computer scientist. dealing with the plains regarding amazon and microsoft. i had to think about how to move these processing units. there are single proc
if a big bank goes under. second, it said to wall street firms, you can't take the same kind of reckless risks that led to the crisis. and third, it put in place the stronger -- the strongest consumer protections in history. now, to make sure that these protections worked - so ordinary people were dealt with fairly, so they could make informed decisions about their finances - we didn't just change the law. we changed the way the government did business. for years, the job of protecting consumers was divided up in a lot of different agencies. so if you had a problem with a mortgage lender, you called one place. if you had a problem with a credit card company, you called somebody else. it meant there were a lot of people who were responsible, but that meant nobody was responsible. and we changed that. we cut the bureaucracy and put one consumer watchdog in charge, with just one job -- looking out for regular people in the financial system. now, this is an idea that i got from elizabeth warren, who i first met years ago. back then -- this is long before the financial crisis -- elizabeth wa
their vote last night? all eyes on wall street, a big drop for the dow jones in fear that the debt ceiling deal will not be reached. bad news about the pace of the economic recovery. f a quick update on bay area weather and traffic. >> in the morning. a live look at the san mateo bridge. gray skies, overcast and foggy conditions along the peninsula. on the eastern shore of the day, we are looking for conditions to really improve. richmond is looking for a sunny and 70 degree conditions, oakland, 73 and partly cloudy. in hayward, 83 and mostly sunny. a full check on weather in a couple of minutes. now, over to traffic. for northbound direction of interest rate to 80 right at saratoga. a motorcycle accident originally blogging only one lane of traffic. the chp in the emergency crews have arrived. currently the middle lanes are blocked. if sold check on this developing hot spot in my next report. if >> topping our news right now, more than 1000 people are expected to pay their last respects to marine county sheriff's deputy jim matheson. a memorial service for the nine year veteran stars at 1
: this scandal may not seem like a big deal from afar but it's already left the prime minister scrambling, the head of scotland yard has resigned, and a skating parliamentary report accused rupert murdoch's company of deliberately trying to thwart a criminal investigation into the illegal activities of his newspaper here. >> isn't it time that we sent this non-tax paying murdoch back from whence he came? >> reporter: the prime minister didn't have to. murdoch boarded his private jet to fly home to the u.s. no doubt happy to leave london and all the turbulence behind. jeffrey cough rkofman, abc news loloon. >> certainly not over yet though as this continues to grow and we're investigating issues here. people, perhaps 9/11 victims, who might have had their cell phones hacked. >> it's scary. judging by the atmosphere there. and the number two, headlines in australia this morning, now that country may be stepping into the investigation to see if phone hacking occurred on their turf. so this thing's snowballing out of control. >> that's for sure. agreed. although you can hop in your private je
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